Indico Resources Purchases Additional Surface Rights at Irmin

Indico Resources (TSXV:IDI) has purchased an additional 876.8 hectares of surface rights at the Irmin project in Peru’s Arequipa region.
As quoted in the press release:

This is a large area of surface rights which entitles Indico and Irmin to use the area for mining and exploration of oxides and sulphides until the conclusion of mining operations at some period in the future. Upon conclusion which would be decided by the company the surface rights will be returned to the Arirahua community after rehabilitation has been concluded. The effective date of the agreement is 11^th of November 2015 and a first payment of US$250,000 has been paid. A second payment of US$250,000 will be made once the agreement is duly registered in the public registry.

Indico president and CEO, Bob Baxter, said:

These surface rights now enable our partnership to proceed to the drilling evaluation stage aimed at expansion and infill of the current resource ahead of a PEA and the project development. The partnership now controls a total of 4924.8 hectares of surface rights giving us not only a dominant position in the area but also all the surface rights we require for any project development. Our first priority is the SXEW leachable copper project and we now have more than sufficient areas for that development.

Click here for the full press release.